Half Year 2026 My Food Bag Group Ltd Earnings Call Transcript
Key Points
- Revenue increased by 3.8% year-on-year, reaching $85.4 million for the six months ending September 30, 2025.
- The company introduced new health-focused meal kits, such as the Diabetes Plan and GLP-1 Support meals, which have been well received.
- My Food Bag Group Ltd reduced net debt to $5.5 million, strengthening its financial position.
- The company expanded its delivery routes significantly, adding nearly 10,000 new addresses in the past six months.
- My Food Bag was rated number one for meal kit delivery services in New Zealand by Canstar Blue.
- Gross margin decreased by 1.2 percentage points to 48.5% due to food price inflation.
- Contribution margin declined by 1.4 percentage points, impacted by increased distribution and labor costs.
- Food price inflation, particularly in produce and meat, posed challenges, with costs rising by 5.8% and 6.4%, respectively.
- Operating cash flow was slightly lower than the previous year, despite reduced capital expenditure.
- The company faced ongoing ingredient cost pressures, which are expected to continue impacting profitability.
Thank you for standing by, and welcome to the My Food Bag FY26 half year financial results briefing. (Operator Instructions) I would now like to hand the conference over to Mr. Mark Winter, Chief Executive Officer. Please go ahead.
Cool. Thank you, Cura, and welcome, everyone. I am Mark Winter, the CEO of My Food Bag. I'm presenting today with Louise Newsome, our CFO. Thanks for joining us for an update of our half year results for the period 30 September 2025, which we'll refer to as half year FY26.
In terms of today, we'll cover three key areas. We'll provide a business update, a review of our financial performance and our outlook for the second half of FY26. There will also be an opportunity to take some of your questions at the end.
Turning to slide 4. Today, we're reporting revenue of $85.4 million for the six months to September 30 2025. This represents growth of 3.8% on last year. EBITDA came in at $7.2 million and net profit after tax was $2.9 million compared to $3 million
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